A Major Public Pension Fund Suffered a Massive Data Breach

It was reported Wednesday that hackers stole the names and social security numbers of around 769,000 retirees and beneficiaries of the California Public Employees’ Retirement System. In addition, hackers stole their birth dates and other personal information. During the attack, the attackers exploited vulnerabilities in a contractor’s cybersecurity system. In a data breach caused by a third party, some CalPERS members’ personal information was exposed. 

According to the California Public Employees Retirement System, PBI Research Services/Berwyn Group was informed on June 6 that its database had a security breach. The hack was carried out using a popular application that allows file transfers between devices.

There are more than 2 million CalPERS members throughout the country, making it the largest pension fund in the country. In addition to covering the health needs of over 1.5 million members and their families, this organization also provides medical insurance. A spokesperson for CalSTRS, the second-largest public pension plan in the country, told reporters Thursday that it had also been hacked by the same vendor. However, no details were provided about the victims. CalSTRS has reported that 415,000 members and beneficiaries have been affected.

 

To support accuracy in payments to retirees and beneficiaries, CalPERS uses the MOVEit Transfer Application. This applic

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